OPEN A FUND
It’s easy to get started with a fund at the North Texas Community Foundation.
A simple fund agreement and an initial tax-deductible gift are all you need to create your personal giving vehicle.
TYPES OF FUNDS
The North Texas Community Foundation helps donors translate their values into the right type of fund that carries out their wishes and charitable intent.
DONOR ADVISED FUND: Stay actively involved in the grantmaking process. Some donors wish to support multiple organizations and programs throughout the year. The Community Foundation can help identify appropriate nonprofits and programs, ensure their charitable status and provide grantmaking and administrative support. These funds offer an immediate tax benefit while allowing the donor to make grants over time to their favorite nonprofit organizations.
DESIGNATED FUND: Select a specific organization to be supported. Grants from these funds provide a reliable annual income stream to one or more of a donor’s favorite organizations in perpetuity. If the charity ceases to exist, another charity serving the same needs will benefit from the endowment.
FIELD OF INTEREST FUND: Identify a particular field or interest to support. These funds are created by donors who want to support a particular field or issue, such as cancer treatment, education, arts, youth services or any other concern. The Community Foundation awards grants to high-performing organizations or programs in the selected field.
UNRESTRICTED FUND: Impact the most pressing needs of our community, with the flexibility to respond as those needs change over time. Funds without restriction offer the broadest options for charitable giving in our community – and therefore bring about the greatest good. These funds allow the Community Foundation to target dollars toward the community’s most pressing needs, even as those needs change over time. An unrestricted fund is named by or for the donor. A sustainable percentage of the fund’s balance is granted each year to charities selected by the governing board of the Community Foundation. Donors leave a permanent legacy that can adjust over time as the needs of North Texas change. They also empower the Community Foundation to respond to emergencies, which require flexible funding.
ASSETS WE ACCEPT
The North Texas Community Foundation accepts charitable donations including the assets below:
- Publicly Traded Securities and Mutual Funds
- Retirement Plan Assets
- Life Insurance
- Real Estate
- Oil and Gas, Mineral and Timber Rights
- Closely Held Stock
- Business/Partnership Interests (In order for a donor to receive a full fair market value tax deduction, gifts of business interests must be made before there is a signed purchase agreement.)
For more information on assets accepted by the Community Foundation, please contact the Director of Philanthropic Services, Cindy Hanes.